You work tirelessly negotiating deals and investing time fostering client relations. However, many businesses neglect to invest the time ensuring their corporate legal structure is in check correctly to improve your confidence and quality of your decision making and provide a solution-focused approach which is critical in a complex, ever changing business environment.

Common reasons businesses fold is due to a lack of planning and consider how to mitigate potential risk for the business. To that end, every Coraggio Advisory Board has an appointed lawyer to support Members across a diverse array of legal challenges and ensure their risk is minimal as their businesses scale. They are qualified industry specialists who provide considered nonbinding strategic advice, recommendations, “wise counsel”, and guidance to meet the future needs of your business.

In this article, Coraggio Member lawyers Joel Cranshaw, Director of Clearpoint Legal Enterprises from Melbourne, Walter MacCallum, Principal of Russell Kennedy Lawyers from Sydney and Ben Warren, Director of Ellem Warren Lawyers from Brisbane, share a Legal health check for businesses.

Key takeaways:

• The deciding factors in determining the best business structure
• The rules regarding novation of contract
• Factors to consider if you want to ‘partner’ or JV with another business
• How to enforce payments from overdue debtors / customers
• The best approach to recovering small debts
• Legal responsibilities when it comes to my employees
• Best actions to take when a business is about to become insolvent
• How to protect your ideas / intellectual property / business name
• The best steps towards raising capital.